US President Barack Obama signs the Iran Sanctions Act at the White House in Washington. Countries that cut Iranian oil purchases ,won the exemptions and have a six-month reprieve from the threat of being cut off from the US financial system under sanctions designed to pressure Iran over its nuclear program.           – Photo by Reuters (File)

WASHINGTON: A US State Department official on Wednesday, gave the list of the 12 countries that buy Iranian oil and could be subject to US sanctions unless they significantly cut purchases.

The department released the number of countries, but not their names, on Tuesday after saying the United States would grant exemptions to the sanctions to Japan and 10 European Union nations that have cut shipments of Iranian oil.

Countries that won the exemptions have a six-month reprieve from the threat of being cut off from the US financial system under sanctions designed to pressure Iran over its nuclear program, which the West suspects is intended to produce weapons.

Iran says that its program is solely to generate power.

A government source who is not in the State Department earlier gave Reuters a list of 13 countries that did not get an exemption on Tuesday and could be subject to the sanctions.

That list included Morocco. The State Department official, however, said that its information was that Morocco last bought Iranian crude oil in June 2010 and therefore was not among the 12 that may face the sanctions.

However, he stressed that the assessment of which countries could be subject to the sanctions was a dynamic process and that other countries could be added, or dropped, as additional information becomes available.

The State Department official gave the following list of the 12 countries that remain potentially subject to sanctions. The group includes China and India, the top two importers of Iran’s crude, and South Korea, the fourth-largest buyer.

Country:  Rank in top buyers of Iranian crude
China 1
India 2
Indonesia NA
South Korea 4
Malaysia NA
Pakistan NA
Philippines NA
Singapore NA
South Africa 9
Sri Lanka NA
Taiwan NA
Turkey NA
(NA indicates the country's ranking was not immediately available)

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Military option
Updated 21 Nov, 2024

Military option

While restoring peace is essential, addressing Balochistan’s socioeconomic deprivation is equally important.
HIV/AIDS disaster
21 Nov, 2024

HIV/AIDS disaster

A TORTUROUS sense of déjà vu is attached to the latest health fiasco at Multan’s Nishtar Hospital. The largest...
Dubious pardon
21 Nov, 2024

Dubious pardon

IT is disturbing how a crime as grave as custodial death has culminated in an out-of-court ‘settlement’. The...
Islamabad protest
Updated 20 Nov, 2024

Islamabad protest

As Nov 24 draws nearer, both the PTI and the Islamabad administration must remain wary and keep within the limits of reason and the law.
PIA uncertainty
20 Nov, 2024

PIA uncertainty

THE failed attempt to privatise the national flag carrier late last month has led to a fierce debate around the...
T20 disappointment
20 Nov, 2024

T20 disappointment

AFTER experiencing the historic high of the One-day International series triumph against Australia, Pakistan came...